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Montecito Days on the market for 1-1-15 to 7-10-15 compared to the previous year

Submitted by Gary Woods on Wed, 07/15/2015 - 12:30

From 1-1-15 to 7-10-15 in Montecito Real Estate for the Home Estate/PUD market there have been 101 sales compared to 104 last year. The median sales price has come up from $2.747 million last year to $3.15 million this year while the average sales price also went up from $3.436 million last year to $4.49 million. Those 101 sales took on average 74 days to get an accepted offer and when you add in another 34 days of average escrow time you get a total marketing time of 108 days.

For Condominiums for the same time period in Montecito Real Estate this year there have been 20 sales this year compared to 8 last year. The median sales price has gone down from $1,357,500 last year to $1,285,000 this year and the average sales price has gone down from $1,792,437 to $1,501,241. Those 20 sales took on average 112 days to get an accepted and when you add in another 30 days of average escrow time you get an average of 142 days of total marketing time.